Monarch Bids $111 Million to Buy Four Bankrupt Orlando Hotels

Monarch Alternative Capital LP agreed to offer $111.3 million to become the lead bidder for four bankrupt hotels in Orlando.

AD1 Global Hotels LLC’s bankrupt subsidiaries designated Monarch to serve as a “stalking horse” bidder for the upcoming bankruptcy auction, according to a May 2 court filing with the US Bankruptcy Court for the District of Delaware.

Monarch’s bid, which requires approval by the Delaware court, would set a floor price for the Staybridge Suites Orlando Royale Parc Suites, Crowne Plaza Orlando Lake Buena Vista, Aloft Orlando International Drive, and Element Orlando International Hotel. The hotels together have about 700 ...